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Data: The Life Blood of Modern Organizations

Claire by Claire
October 31, 2022
Reading Time: 3 mins read
How News Can Impact The Finance Industry
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Why is the subject of data at the center of today’s academic and business communities? There are many reasons, the chief among them being that information, in all its forms, drives nearly every management decision in companies across the commercial spectrum. Unlike management teams in years past, leaders of modern organizations rarely make a move without at least some kind of data to support their reasoning. Transportation fleets rely heavily on information gleaned from tachographs, technical devices that record vehicle speed, distance traveled, rest times, and a range of similar statistics. It’s important to remember that you need to know how to identify a secure website and several government and regulatory agencies require owners to maintain certain kinds of files, records, and databases to meet compliance laws.

In the field of medicine, practitioners must follow strict and precise guidelines for retention of patient records. In dozens of disciplines, there are laws on the books that require corporations to maintain all email correspondence for one or more years. Real estate, accounting, finance, and many other types of professionals face legal requirements regarding storage of customer, client, and investor-related transactions. The following are just a few examples of those regulations, along with the ways in which managers deal with them.

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Vehicle Fleet Data

Fleet managers use tachograph data as a one-stop-shop for a wide variety of data needs, particularly those that revolve around the need for speed, distance, and rest period information. The technology is relatively simple compared to other devices and systems in transportation and other industries. Transport industry supervisors who oversee large numbers of vehicles receive tachograph statistics 24/7 and leverage the power of the information to assess how well drivers are meeting compliance guidelines, achieving safety targets, and generally adhering to the rules of the road. As an all-in-one way to deal with the many compliance requirements in a business that is heavily regulated, tachographs are efficient workhorses.

Medical Records

There is so much growth in the tech revolution and it is quite apparent in the healthcare industry. In modern physicians’ offices, patient records are the central focus of office staff members who oversee both retention and confidentiality. Unlike many other kinds of customer profiles, medical files contain highly sensitive transcripts that fall under dozens of strict federal and state laws about the security and safety of patient records. Doctors rely on aggregated statistics to discover important trends in community healthcare, patient progress, and other important parameters.

Email Retention

Any company that conducts active email correspondence as a part of its daily routine, which includes almost every entity in operation, must adhere to a series of local and national regulations and laws about how to store, categorize, and secure all messages for several years. Specific requirements vary across jurisdictions and depend on the industry at hand. However, every entrepreneur and company owner should research the particular guidelines in effect for their company before storing or deleting any email message, even those that seem innocuous or irrelevant.

Finance & Accounting Documentation

Looking ahead at the top future career choices you will always see finance related jobs on the list, for good reason. In the financial and accounting fields, document retention is a large part of every manager’s job, even though it’s usually delegated to other workers. Because so many financial records pertain to personal and business tax matters, there are strict laws in place that dictate what accountants and financial planners can do with customer files and communications.

Claire

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